Fire safety advice for landlords
- 3 December 2014
- Tips for Landlords
In 2012 to 2013 the fire and rescue service attended 192,600 fires. More than a third of the fires which were in…Read More
As a landlord and a property investor in London, you will always strive to make the optimum investment which gives the most benefits at the lowest costs and for that, the situation of the London areas is of direct importance. It is easy to spot the signs which indicate that an area is up and coming and it is worth investing in; however, the highest profits will come when you anticipate your purchase to the increase of demand in the area.
So, what signs indicate the incoming price explosion in an area?
1) Empty High Streets: No open shops in an area’s high street can mean two things: a sign of the areas unpopularity, or a big sign of the areas improvement. It can perfectly mean that the chicken and betting stores are being substituted by coffee shops, hair dressers,… and the areas’ traditional pubs are closing down to make space for the demanded cocktail bars. It is important to spot the difference on the reasons why a high street might be empty since it could mean the difference between a good and a bad investment.
2) Warehouse parties: as we can see now in some London areas, “low-budget” parties are a sign of increasing nightlife and young atmosphere in the neighborhood. Those are good indicators that some areas of London are a few years off the big time. For example, Dalston and Stratford are populated by youngsters going to parties hosted in old warehouses and living in bordering areas . That same troop soon will want to rent there and this in turn will attract the wealthier crowd buying up and pushing prices up.
3) Building activity: Other buyers or property owners have also seen the potential in the area and are now deciding to rebuild, buy and refurbish properties with the objective of renting or selling them in the near future.
4) Lots of bicycles: This mode of transport is now seen as one of the healthiest and trendiest ways to move around. It is not anymore a method for students, and it is expanding as a way of transport even for the wealthiest sectors. The key relies on spotting the brands and looks of the bikes since it will tell us whether we are looking at a cheap student neighborhood or at a wealthy area to be exploded.
5) Empty driveways: if you don’t see cars parked in an area, it can mean that their owners prefer to have them stored indoors in a garage for example. It can be a sign of wealth.
6) People begging on the streets: beggars must be in areas where they know they can get money from. If you see people begging, it means that there is generally money in the area.
These are a few uncommon tips that can serve as an indicator about the situation of an area. You should however not take all these tips for granted, since they can also mean something else; take them as a sign, and compare with full information about the London Areas to make your investment as profitable as possible!